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January 19, 2024
Question

My husbands student loan was forgiven in 2023 under the PSFL program. We live in Virginia. Do I need to report this on my state or federal tax return for 2024?

  • January 19, 2024
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1 reply

January 19, 2024

You don't need to report it. According to the IRS, student loan amounts forgiven under PSLF are not considered income for tax purposes. Learn more about the PSLF process.
Also, Virginia will not tax as income student loans forgiven. 

 

For more information check: State council of Higher Education for VA.

                                                      Student Aid.gov

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